 "HDFC net profit up 17% to Rs 1,555 crore")
For the full year, the lender’s profit rose 18 per cent to Rs 4,848 crore. Net interest income rose 14 per cent to Rs 2,121 crore for the quarter.
“Growth in profit is a result of rising loan book and maintaining spreads” said Conrad D’Souza, member of executive management, HDFC
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HDFC’s loan book stood at Rs 1,70,046 crore at the end of the year from Rs 1,40, 875 crore. Individual loans grew by 31 per cent while non individual loans (developers loan) grew by 13 per cent during the year.
Net interest margin of the company was 4.2 per cent while the spread was 2.3 per cent.
Gross non-performing assets were 0.70 per cent compared to 0.74 per cent a year before. The company’s provisions for contingencies, however, increased from Rs 80 crore to Rs 145 crore for the quarter due to standard asset provisioning norms. These norms were applicable from this year, D’Souza added.
Total provisions were Rs 1,792 crore which was including additional provisions of Rs 286 crore, HDFC said.
The average size of the loans went up to Rs 21.6 lakh from 19.5 lakh, HDFC said.
The capital adequacy ratio was 16.2 per cent with Tier-I capital of 13.8 per cent. Company declared dividend of Rs 12.5 per share for the year 2012-13.
On a consolidated basis, HDFC posted net profit of Rs 6,640 crore for the year.